9 Jan Market forcing Bernanke hand

SPX at 1390. Drop below 1360, it is HELL break lose. AND probably it conincides with Bernanke speech on coming Thursday.

Glass ceilings everywhere in forex. EURUSD capped at 1.4730, GBPUSD at 1.9830. Ideal environment for day traders.

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Update 9:10 pm ET
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McCain won New Hampshire. Comeback old kid.
Now we wait for Obama and Clinton. Probably market comes to standstill to watch the primaries.

Today is the FIRST day of trading for the China Gold Futures contract on the China commodities exchange. Price movement is capped at +- 5% of the previous day. The Gold has been rising in anticipation of this new group of GAMBLERS.

Welcome, a new era has arrived for GOLD.

Update 11:20 am ET
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The focus is going to shft to Bush visit to MiddleEast. It is like a lamb going to the Lion's den. the recent Iran and US navy mini-clash on Homuz, may just be a routine Iran check on passing vessels on Homuz, it smacks of US media cooking story.

Now, you want the lamb, well done or medium rare ?

For people to pile up on 200USD oil options, there must be a happening. People can plan, but Divine would decide if it happens.

Update 10:35 am ET
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Gold pulling back towards 870 after touching 890.
Poole was sounding optimistics. Yesterday Plosse was saying rebound in 3/4 Qtr. Poole says that USD would not drop all the way, because US have a stable economy.

If these words were uttered last yr, Oct/Nov, it is still convincing. However after the weak NFP, drastic rise in unemployment rate, SPX touching 1390, Countrywide "near" bankrupt, signs of subprime spreading. Saying "STABLE ECONOMY" is absolutely "BRUTAL".

We have flood in Misouri, hurriances in midwest, snowstorm, portions of Americans is living in peril. Hundreds thousands pondering where to get bread for tomorrow, if not the next mortgage payment.

Why ? all these OPTIMISTICS talks ? simply because Equities are making new low. FED wants to talk up the Equities. Talk is free, like this commentary of mine.

Update 11:00 am ET
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Euro making new low 1.4645, GBP into 1.9569 ( at last trying to complete the last wave).
All making new lows ahead of the big day (ECB/BoE/ and Bernanke speaks).